UPDATE: Barrington Research Starts ICG Group (ICGE) at Outperform

(Updated - June 12, 2014 11:40 AM EDT)

Barrington Research initiated coverage on ICG Group (NASDAQ: ICGE) with an Outperform rating and a price target of $25.00.

Analyst Jeff Houston said, "ICG is a diversified, pure-play vertical SaaS company with a large market opportunity, a leadership position in each of its markets, strong recurring revenue growth, and profitability potential. While the stock trades in line with the fast-SaaS median on a CY/15 EV/Revenue basis, we think there is significant upside potential to our forecasts. Also, we expect it to deliver great returns on its $320 million of cash given management’s 15-year track record of scaling SaaS businesses."

For an analyst ratings summary and ratings history on ICG Group click here. For more ratings news on ICG Group click here.

Shares of ICG Group closed at $19.26 yesterday.

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